This upcoming Sunday, the people of Venezuela will hold an election that, if legitimate, would put an end to years of the oppressive Maduro narco-regime. U.S. Senator Marco Rubio (R-FL) issued a statement in support of the Venezuelan people: “The...
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Rubio: “La Tenacidad y Valentía del Pueblo venezolano Estarán a la Vista”
Este próximo domingo, el pueblo venezolano tendrá una elección que, de ser legítima, pondría fin a años de opresión por parte del narco-régimen de Maduro. El senador estadounidense Marco Rubio (R-FL) grabó un mensaje de video en español y emitió una declaración en...
Rubio, Scott, Colleagues to Biden Admin: No Privileges Should Be Given to 9/11 Terrorist
Twenty-three years ago, the United States was attacked by Islamic terrorists on September 11, 2001. Now, Zacarias Moussaoui, the only person convicted in a U.S. court for his role in the attack, has requested the U.S. Department of Justice to allow a prisoner transfer...
Next Week: Rubio Staff Hosts Mobile Office Hours
U.S. Senator Marco Rubio’s (R-FL) office will host virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of Senator Rubio’s...
Rubio, Colleagues Introduce Ensuring Continuity in Veterans’ Health Act
As the U.S. Department of Veterans Affairs (VA) opens up new facilities, many veterans are losing access to the VA’s Community Care Program and, consequently, their long-term healthcare providers. Veterans throughout the country have reported a loss of care, including...
Rubio Introduces Bill to Strengthen U.S.-India Security Partnership
The U.S.-India partnership is vital to countering influences from Communist China. In order to strengthen this partnership, it is essential to enhance our strategic diplomatic, economic, and military relationship with New Delhi. U.S. Senator Marco Rubio (R-FL)...
How the New Lee-Rubio Tax Plan Would Boost the Economy
The U.S. has the highest corporate tax rate in the developed world, is the only major country to tax its businesses on income earned outside the country and delays the ability of businesses to deduct capital expenses for as long as 39 years. The monstrous complexity of the U.S. tax system has a disproportionately adverse impact on small businesses. It is a major reason why U.S. economic performance is anemic.
The Lee-Rubio plan, announced today, would fix these problems and result in a rapidly growing economy. Based on a forthcoming Tax Foundation study of the plan and previous analyses of similar plans in the past, the plan from Sens. Mike Lee, R-Utah, and Marco Rubio, R-Fla., has the realistic potential to increase the size of the economy by 15 percent over what it would be if we do nothing. Although tax lawyers would probably see their incomes decline, most Americans would see substantially higher real incomes.
The plan does this by reducing business tax rates to 25 percent, allowing business to deduct capital expenses when incurred, moving to a tax system that does not punish U.S. businesses for operating and selling abroad and eliminating the double taxation of corporate income.
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The business reforms in the Lee-Rubio plan are extremely good and would make virtually all Americans better off but the individual reforms could be improved.
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